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Last Week's Notable Insider Buys: Avis, Biglari And More

  • Insider buying can be an encouraging signal for potential investors when markets face uncertainty.
  • This past week, some insiders were adding to their stakes in the wake of earnings reports.
  • A few biopharmaceutical companies saw insiders acquiring some shares as well.

Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when there is uncertainty in the markets, as there was before and after the elections and as the pandemic worsens.

Though buy windows remain closed for some insiders during earnings-reporting season, plenty of others continued to purchase shares despite market volatility and economic uncertainty. Here are some of the most noteworthy insider purchases reported in the past week.

Four Organogenesis Holdings Inc (NASDAQ: ORGO) directors and two beneficial owners altogether purchased about 6.14 million shares at $3.25 and $5.00 apiece last week. That totaled around $20.00 million. Note that these purchases included a common public share offering at $3.25 apiece.

Multiplan Corp (NYSE: MPLN), a services provider to the health care industry, saw a director and an officer pick up less than 1.43 million …

Full story available on Benzinga.com

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